By: Mahmoud Gamal
Dubai – Mubasher: The Dubai Financial Market (DFM) trimmed its early losses on Thursday, backed by the rise of investment stocks.
The DFMGI decreased 0.03% or 1.03 points to reach 3,720.59 points.
The market managed to hold on Thursday as a result of buying stocks listed on Dubai and Kuwaiti bourses.
The investment sector rose 0.64% as Ekttitab Holding, International Financial Advisors (IFA), Al Salam Group Holding and Al Madina for Finance and Investment went up 5.5%, 3.6%, 2.15% and 1.7% respectively.
The telecom sector levelled up 0.8% as du advanced 0.8%.
Speculators focused on stocks with value less than AED 1 like GFH Financial Group, Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi, told Mubasher.
The banks sector led losers after falling 0.09% as Mashreq Bank slid 1.7%. The real estate sector declined 0.08% after Damac Properties and Emaar Properties sank 1.5% and 0.26% respectively.
Trading volume reached 1.49 billion shares on Thursday, compared to 1.02 billion shares on Wednesday. Turnover amounted to AED 1.53 billion, compared to AED 1.01 billion.
Portfolio investors are expected to increase their positions in small- and mid-cap stocks next week, in line with the approach of annual results, Ajaj noted.
Translated by: Julian Nabil
